BT is to increase its stake in Airtel of Spain to 15.8 per cent. This will make it the largest shareholder in the GSM mobile telecomms operator.
BT will also take full control of BT Telecommunicaciones by buying out its joint venture partner, Banco Santander, which currently has a 50 per cent stake. The unit offers managed network services in Spain, including frame relay, Internet and virtual voice. Since its launch in April 1994, BT Telecommunicaciones has developed a national network with an investment from its parents of Pta17,000 million. It currently has more than 1,000 corporate customers.
Alfred Mockett, managing director of BT Global Communications, said: ?Spain is a key market for any player which wishes to offer pan-European and indeed global services.?
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